has been subject to such filing requirements for the past ninety (90) days.

Transcription

1

2 12. Check whether the issuer: (a) has filed all reports required to be filed by Section 17 of the SRC and SRC Rule 17.1 thereunder or Section 11 of the RSA and RSA Rule 11(a)-1 thereunder, and Sections 26 and 141 of The Corporation Code of the Philippines during the preceding twelve (12) months (or for such shorter period that the registrant was required to file such reports); Yes [ X ] No [ ] (b) has been subject to such filing requirements for the past ninety (90) days. Yes [ X ] No [ ] 13. Aggregate market value of the voting stock held by non-affiliates: P176,749,698, (BDO share price of P109.80)

3 TABLE OF CONTENTS Page No. PART I - BUSINESS AND GENERAL INFORMATION Item 1 Business 1 Item 2 Properties 12 Item 3 Legal Proceedings 65 Item 4 Submission of Matters to a Vote of Security Holders 65 PART II - OPERATIONAL AND FINANCIAL INFORMATION Item 5 Market for Issuers Common Equity and Related Stockholders 66 Matters Item 6 Management s Discussion and Analysis or Plan of Operations 69 Item 7 Financial Statements 76 Item 8 Changes in and Disagreements with Accountants on Accounting and Financial Disclosures 76 PART III - CONTROL AND COMPENSATION INFORMATION Item 9 Directors and Executive Officers of the Issuer 78 Item 10 Executive Compensation 104 Item 11 Security Ownership of Certain Beneficial Owners and 106 Management Item 12 Certain Relationships and Related Transactions 111 PART IV CORPORATE GOVERNANCE Item 13 Corporate Governance 113 PART V - EXHIBITS AND SCHEDULES Item 14 List of Branches, Reports on SEC Form 17-C 114 SIGNATURES 119 EXHIBITS & ANNEXES Audited Financial Statements and Independent Auditors Report (December 31, 2014, 2013 and 2012) Supplementary Schedules Annual Corporate Governance Report (Consolidated Changes as of December 31, 2014)

4 Part I Business and General information Item 1. Business 1) Business Development (a) Form and Year of Organization BDO Unibank, Inc. (BDO or the "Bank"), originally known as Acme Savings Bank, was acquired by the SM Group in The SM Group is one of the largest conglomerates in the Philippines, with substantial interests in financial services, real estate development, and tourism and entertainment, founded around its core business in commercial centers and retailing. BDO listed its shares on the Philippine Stock Exchange (PSE) on 21 May BDO is now the market leader in most of its core business lines following its merger with Equitable PCI Bank (EPCI) in May The Bank offers a complete array of products and services, i.e. Retail Banking, Lending (Corporate, Commercial, Consumer, and SME), Treasury, Trust, Credit Cards, Corporate Cash Management and Remittances. Through its subsidiaries, the Bank offers Leasing and Financing, Investment Banking, Private Banking, Bancassurance, Insurance Brokerage and Stock Brokerage services. It has one of the largest branch networks, with 875 operating domestic branches, 1 branch in Hongkong and 2,591 ATMs and 61 Cash Accept Machines as of 31 December Over the past several years, the Bank has experienced significant growth. This resulted from organic growth arising from increased market coverage and a wider array of products and services, as well as through mergers and acquisitions. Sustaining earlier gains, the Bank is currently the largest bank in the Philippines in terms of assets, loans, deposits and trust assets as of the end of the fourth quarter of BDO's market shares of the commercial banking sector are as follows: o Assets - 17% o Assets Under Management (Trust) - 32% o Customer Loans - 21% and o Deposits - 18% BDO reported a net income of P22.8 billion for the year Total resources climbed by 11% year-on-year to P1.9 trillion owing to an expansion in customer receivables. Net Loans and Other Receivables grew 31% with gross customer receivables expanding by 20% buoyed by continued demand for corporate and consumer loans. Total Deposit Liabilities went up by 11%, driven by the 24% growth in CASA deposits, on continued marketing efforts supported by additional branch redeployments. Trust Assets under Management likewise expanded year-on-year to P817.5 billion. Meanwhile, Total Equity stood at P179.7 billion from the Bank's continued profitable operations. SEC FORM 17-A 1

5 BDO's diverse subsidiaries and investments in allied undertakings provide an extensive range of banking and other financial services. The Bank's subsidiaries and associates are as follows: Philippine Subsidiaries % Interest Held BDO Private Bank, Inc. (BDO Private) 100% BDO Strategic Holdings, Inc. (BDOSHI, formerly EBCII) 100% BDO Leasing and Finance, Inc. 89% Banco de Oro Savings Bank, Inc. 100% BDO Elite Savings Bank, Inc. (formerly GE Money Bank, Inc.) 99% BDO Capital & Investment Corporation (BDO Capital) 100% Equimark NFC Development Corp. 60% PCIB Securities, Inc. 100% PCI Realty Corporation 100% BDO Insurance Brokers, Inc. (BDOI) 100% PCI Insurance Brokers, Inc. (PCI Insurance) 100% MDB Land, Inc. 100% Foreign Subsidiaries % Interest Held Express Padala (Hongkong) Ltd. 100% BDO Remittance (USA), Inc. 100% PCIB Europe, S.P.A 100% Express Padala Frankfurt GmbH 100% BDORO Europe Ltd. 100% BDO Remit (Japan) Ltd. 100% BDO Remit (Canada) Ltd. 100% Associates % Interest Held Manila North Tollways Corporation (MNTC) 12% SM Keppel Land, Inc. 50% Generali Pilipinas Holdings, Inc. 40% Northpine Land Incorporated 20% Taal Land 33% SEC FORM 17-A 2

6 None of the Bank's subsidiaries and associates is under any bankruptcy, receivership or similar proceedings. Further, such subsidiaries and associates have not engaged in any material reclassification, merger, consolidation or purchase or sale of a significant amount of assets that is not in the ordinary course of business. 2) Business of Issuer (i) Principal Products and Services Deposits BDO offers a wide array of Peso, Dollar, and Third Currency deposit products and services catering to a broad and diversified client base. These products cut across all age groups and customer profiles (such as kids, young professionals, entrepreneurs, OFWs and their beneficiaries and retirees). Further details on the Bank's various deposit products can be accessed at its website Remittances BDO's strength in providing top remittance services lies in its extensive international reach spanning Asia, Europe, North America, and the Middle East. On the distribution side, a strong domestic coverage consisting of the Bank's wide branch network and remittance partners that include, among others, SM, thrift banks, pawnshops, as well as other financial service partners, complements the Bank's international presence. BDO also has tie-ups with SM and its partner establishments, as well as food outlets (like Jollibee and Max's) that provide clients with unique value-added services such as gift and food remittance delivery. Trust Services In addition to investment management and wealth advisory services, BDO offers a good mix of collective investment products such as the Unit Investment Trust Funds (UITFs) for individual and corporate clients; as well as escrow, agency and specialized corporate trust services. Treasury The bank provides treasury products and services to clients ranging from retail, middle market and large corporates, both onshore and offshore. These services include purchase and sale of foreign exchange, fixed income securities as well as offering hedging tools (in the form of derivatives) to mitigate the clients interest and foreign exchange risks. As the bank is committed to be its clients partner for growth, the bank holds periodic economic briefings and forums to keep its clients abreast of the financial market conditions. This also serves as a venue for the bank to listen to clients needs and offer solutions. On several occasions, the Bank has been recognized and has been a recipient of various awards in the area of foreign exchange and fixed income securities. SEC FORM 17-A 3

7 Transaction Banking BDO's transaction-based services provide high value-added cash management government entities, and small- and medium-enterprises (SMEs). The Bank's electronic banking services, which include the Bank's over 2,600 ATMs nationwide, as well as browser-based, mobile app, and landline banking facilities, allow customers to access their accounts and perform an extensive range of banking transactions at their convenience anytime and anywhere. Meanwhile, the Bank's debit card facility lets customers enjoy the convenience of hassle-free cashless payments and easy cash access using either pre-loaded or account-funded cards. Credit Cards The Bank offers an extensive array of locally- and internationally-accepted credit cards bearing the BDO Shopmore, American Express, JCB, MasterCard, Union Pay, and Visa brands, as well as other co-brand tie-ups (Amex, Cathay Pacific, Forever 21 and Bench). BDO credit cards likewise cover a broad market spectrum across different age groups ranging from the young upwardly mobile generation (with Amex Blue) to high net worth individuals (Elite cards). Investment Banking Through its subsidiary, BDO Capital & Investment Corp., the Bank provides expertise and optimal solutions to address the capital raising needs of corporations and government entities plus meet the investment needs of retail and institutional investors.. The Bank s strong origination and structuring capabilities, robust distribution network, dominant presence in both the equities and capital markets, and established track record all highlight BDO s brand of investment banking. Insurance The Bank provides its clients property and casualty insurance through BDO Insurance Brokers, Inc., a wholly-owned subsidiary. In partnership with Generali Pilipinas Holding, the Bank also acquired a bancassurance license that permits it to market and sell life insurance products through its nationwide network of more than 875 branches, permitting customers access to a wide array of insurance products. Trade Services The Bank offers a complete range of trade finance products and services, ranging from letters of credit to inventory financing that respond to the specific trade- and international requirements of its corporate customers. Wholesale Lending and International Desks BDO provides teams or specialized desks with relationship managers who are able to speak foreign languages to address the Bank's growing number of clients from different countries. In addition to Desks covering Japan, Korea, Mainland China, Taiwan and Southeast Asia, the Bank SEC FORM 17-A 4

8 also has teams focused on clients from North America, Europe and Australia/New Zealand as well as the diplomatic corps for their banking needs. Access to multilateral institutions such as the International Finance Corporation, the Asian Development Bank and export credit agencies such as USEximbank, Korea Exchange Bank, Taiwan Eximbank and the Japan Bank for International Cooperation is also provided as sources of guarantee facilities and fixed rate medium to long term loans for the bank's eligible customers. Domestic funding sources for specialized lending facilities from the Development Bank of the Philippines and the Land Bank as well as rediscounting facilities from the Bangko Sentral are also provided. Leasing BDO Leasing and Finance, Inc. offers comprehensive leasing and financing solutions to commercial clients across various industries. From the above mentioned products and services, the Bank's revenues are divided into two major categories, namely, (1) interest income from the Bank's deposit taking, lending and investing activities which accounts for 68% of revenues, and (2) other income which includes service charges, fees & commissions, trading gain, foreign exchange gains, trust fees, income from sale of acquired assets and other miscellaneous income which account for 32% of revenues. Of all the revenue accounts, the following contributes more than 10% to total revenues: Income Accounts % to Total Income 1. Interest Income on Loans & Other Receivables 57.9% 2. Service Charges, Fees and Commissions 16.5% Subsidiaries and Associates BDO Private Bank, Inc. BDO Private Bank, Inc. ( BDO Private Bank ), a wholly-owned commercial bank subsidiary of the Bank, was acquired on August 29, 2003 to provide a dominant presence in the Philippine private banking sector. BDO Private Bank focuses in providing wealth management and bespoke private banking services to a niche market of emerging affluent and high net worth individuals as well as corporate and institutional clients. BDO Strategic Holdings, Inc. BDO Strategic Holdings, Inc. ( BDOSHI ), formerly, EBC Investments, Inc. is a domestic corporation incorporated on October 4, 1995 and licensed to operate as a holding company. BDOSHI, which is wholly owned by the Bank, owns three (3) offshore remittance companies. SEC FORM 17-A 5

9 BDO Leasing and Finance, Inc. BDO Leasing and Finance, Inc. ("BDO Leasing"), an 88.54%-owned subsidiary, incorporated on May 10, 1981 and was listed in the PSE on January 6, BDO Leasing's principal business is to provide leasing and financing products. Its leasing products include direct leases, sale and leaseback arrangements, and dollar-denominated leases. Its financing products include commercial and consumer loans, installment paper purchases, floor stock financing, and receivables discounting and factoring. Assets financed include automobiles, trucks, office equipment, industrial, agricultural and office machinery, real property, and financial assets such as receivables. Banco De Oro Savings Bank, Inc. Banco De Oro Savings Bank, Inc. (formerly Citibank Savings, Inc.) is a thrift bank subsidiary of the Bank acquired in March 25, The Company's banking business was integrated with the Bank in August It remains a subsidiary with a separate legal entity and assets of P865 million as of December 31, BDO Elite Savings Bank, Inc. While BDO Elite Savings Bank, Inc.'s operations were integrated with the Bank on May 17, 2010, it remains a subsidiary with a separate legal entity and assets of P804 million as of December 31, BDO Capital & Investment Corporation BDO Capital & Investment Corporation ( BDO Capital ), a wholly-owned investment house, is the investment banking arm of the Bank that started operations in March BDO Capital was established to address the capital raising needs of the Bank s larger corporate and institutional accounts, as well as Government-owned and controlled corporations and match these with the investment requirements of the more sophisticated investors including high net worth individuals, fund managers and other institutions. Equimark-NFC Development Corporation Equimark-NFC Development Corp. is 60% owned by the Bank and 40% owned by China Nonferrous Metals Industry. The company has a joint venture project with Avida Land, an Ayala subsidiary, involving two residential condominium towers in Makati City. PCIB Securities, Inc. PCIB Securities, Inc., a wholly-owned subsidiary, was incorporated in the Philippines on June 29, 1994 and was licensed by the SEC primarily to engage as dealer in the business of offering, buying, selling, dealing or trading of securities of all kinds for its own account and as a broker in the SEC FORM 17-A 6

10 purchases, sales or other transactions relating to all kinds of securities of any person, corporation or entity. BDO Insurance Brokers, Inc. BDO Insurance Brokers, Inc. ("BDOI") is a wholly-owned subsidiary of the Bank engaged in insurance brokerage. It began commercial operations in September 1997 as an insurance intermediary for the Bank, its customers, and the Bank's affiliates, including the SM Group. For the years ended December 31, 2012, 2013 and 2014, and the two months ended February 28, 2015, P3.9 billion, P4.6 billion, P5.9 billion and P1.1 billion, respectively, of gross insurance premiums were arranged by BDOI. While BDOI has the technical capability to evaluate insurance risks, it does not underwrite or absorb insurance risks. MDB Land, Inc. MDB Land, Inc. was incorporated on August 30, 1996 and is currently under dissolution. Express Padala (HK) Ltd. Express Padala (HK) Ltd. provides remittance services to the Philippines from Hong Kong. It is wholly-owned by the Bank. BDO Remit (USA), Inc. BDO Remit (USA), Inc., a wholly-owned subsidiary, was incorporated in California on February 15, It offers a full range of remittance services to the Philippines through its offices in West Covina, Los Angeles, and San Francisco, and its agents in California and other states. PCIB Europe SpA PCIB Europe SpA ceased operations on May 25, 2010 and is on liquidation basis. Express Padala Frankfurt GmBH Express Padala Frankfurt GmBH provides remittance services to the Philippines from Germany. It is currently under liquidation. BDORO Europe Ltd. BDORO Europe Ltd., a wholly owned subsidiary, was formed in London and registered with the Companies House on May 30, It is now in the process of completing the documents to support its application for a banking license in the United Kingdom. While waiting for the authorization process to be completed and with the acquisition of a real estate property in London, it will initially operate as a property lessor but will eventually provide commercial banking services to the Filipino communities in UK and Europe. SEC FORM 17-A 7

11 BDO Remit (Japan) Ltd. BDO Remit (Japan) Ltd. was incorporated on August 18, 2014 and is presently preparing its application for a money service license. BDO Remit (Canada) Ltd. BDO Remit (Canada) Ltd. was incorporated on June 23, It can operate a money service business but as of the moment remains non-operational. Manila North Tollways Corporation Manila North Tollways Corporation ("MNTC"), one of the country's leading toll road developers and operators, was incorporated on February 4, MNTC is the builder and concessionaire of the North Luzon Expressway and is involved in all aspects of tollway operations and maintenance, which includes toll collection, traffic management, motorists' assistance and roadway maintenance. On February 2015, the Bases Conversion and Development Authority (BCDA) awarded the contract to MNTC for the management, operation and maintenance of the 94-kilometer Subic- Clark-Tarlac Expressway. BDO owns % of MNTC. The other shareholders of MNTC are Metro Pacific Tollways Development Corporation, Egis Investment Partners Philippines Inc., Globalfund Holdings Inc. and the Republic of the Philippines. SM Keppel Land, Inc. SM Keppel Land, Inc. ( SM Keppel ) is 50% owned by the Bank and 50% owned by the Keppel Group of Singapore. It is a private corporation organized on January 11, 1994, which owns approximately two hectares of land in the Ortigas district where SM Keppel operates a five-storey retail podium geared towards upper market lifestyle shopping. Generali Pilipinas Holding Company, Inc. In March 1999, the Bank established Generali Holding, a joint venture holding company with Generali, Jerneh Asia Berhad ( Jerneh Asia ) and Vantage Equities, Inc., to enter into life and general insurance businesses. Generali is one of the largest insurance groups in the world, while Jerneh Asia is a member of the Kuok Group of Companies, one of the largest conglomerates in Malaysia, providing a wide range of general, marine and medical insurance products. Subsequently, BDO Capital acquired the 10% holdings of Vantage Equities, Inc. in Generali Holding. Generali Holding is effectively 40% owned by the Bank and 60% by Generali Asia, which, in turn, is 60% owned by Generali and 40% owned by Jerneh Asia. Generali Pilipinas Life Assurance Company, Inc. ( Generali Assurance ) and Generali Pilipinas Insurance Company, Inc. ( Generali Insurance ) were both incorporated in July 1999 as whollyowned subsidiaries of Generali Holding and were subsequently launched in March 2000 to serve SEC FORM 17-A 8

12 as the operating companies for life and general insurance, respectively. Generali Assurance and Generali Insurance are among the largest capitalized insurers in the Philippine insurance industry and are positioned to provide the Bank with an opportunity to become a one-stop financial shop, providing a wide range of insurance products and services through its branches. NorthPine Land, Inc. NorthPine Land Incorporated, where the Bank holds a 20% interest, is a real estate company incorporated on April 25, 1996 and is involved in horizontal development targeting the middleincome to high-end housing market. Current projects are located in Cavite, Laguna and Rizal. The other shareholders of the company are Hong Kong Land, Inc., San Miguel Properties, Inc. and Metrobank. Taal Land, Inc. Taal Land, Inc. is 33% owned by the Bank and was incorporated on January 28, It owns 25% of Jaka Tagaytay, developer of the Splendido resort. (ii) Distribution Methods of Products or Services The Bank's products and services are available mainly through the branches, but select services are also accessible through other channels such as call centers, mobile and landline telephones, internet, and point-of-sale terminals. The Bank's extensive distribution network provides it good market coverage that is superior to many of its competitors. Aside from a branch in Hong Kong and a consolidated domestic network of 875 operating branches, the Bank has 2,591 ATMs and 61 Cash Accept Machines as of 31 December The Bank's foreign operations comprises a banking branch in Hong Kong and various remittance subsidiaries operating in Asia, Europe and the United States accounted for 0.9%, 0.7% and 0.4%, of the Group's total revenues in 2014, 2013 and 2012, respectively. (iii) Status of Publicly Announced New Products or Service None (iv) Competition The Philippine commercial banking sector consisted of 36 commercial banks, 17 of which are private domestic banks, 16 are branches/subsidiaries of foreign commercial banks and 3 are government-controlled banks. Of the 36 commercial banks, 21 are universal banks, of which 6 are branches of foreign banks. Based on consolidated published statements of condition, the total assets of the commercial banking system as of 31 December 2014 reached P10.8 trillion. The five largest banks, namely, SEC FORM 17-A 9

13 BDO, Metropolitan Bank and Trust Company, Bank of the Philippine Islands, Land Bank of the Philippines, and Philippine National Bank, accounted for 60% of total assets. As of 31 December 2014, the loans and receivables (net) of the commercial banking system amounted to P5.5 trillion, while total deposits was at P8.3 trillion. The total capital accounts of the commercial banking system amounted to P1.1 trillion as of December Note: All the data used in the discussion above are based on consolidated published statements of condition of all commercial banks. (v) Transactions with and/or Dependence on Related Parties In the ordinary course of business, the Bank has loans, deposits and other transactions with its related parties, and with certain directors, officers, stockholders and related interest (DOSRI). These loans and other transactions are made on the same terms as with other individuals and businesses of comparable risks and in compliance with all regulatory requirements. (vi) Patents, Trademarks, Licenses, Franchises, Concession, Royalty Agreement or labor contracts including duration The Bank has registered the following trademarks with the Intellectual Property Office of the Philippines: Trademark Duration Express Padala 17 March 2008 to 17 March 2018 We find ways 7 April 2008 to 7 April 2018 (vii) Governmental Approval of Principal Products or Services The Bank secures approval from the Bangko Sentral ng Pilipinas (BSP) for all its products and services, as required. (viii) Effect of Existing or Probable Governmental Regulations on the Business Being a banking institution subject to the General Banking Law and banking regulations, BDO is under the supervision of the BSP, whose approval BDO requires to undertake certain activities. BDO strictly complies with the BSP requirements in terms of reserves, liquidity position, limits on loan exposure, cap on foreign exchange holdings, provision for losses, anti-money laundering provisions and other regulatory requirements. (ix) Estimate of Amount Spent for Research and Development Activities This is not applicable to the Bank. SEC FORM 17-A 10

14 (x) Total Number of Employees The Bank has a total of 24,779 employees as of 31 December 2014 broken down as follows: Non-Officers Officers TOTAL Total Head Office 2,900 5,719 8,619 Branches 11,124 4,045 15,169 Total for Subsidiaries TOTAL EMPLOYEES 14,364 10,415 24,779 The Bank has an existing Collective Bargaining Agreement (CBA) with the Banco de Oro National Union of Bank Employees covering substantially all of the Bank's staff level employees, except those as expressly excluded in the Agreement. The Agreement is effective for a period of five (5) years from 1 November 2010 to 31 October 2015, in so far as Union representation is concerned. Other covered provisions with effect until October 31, 2013 were renegotiated and concluded for the succeeding period of two (2) years until 31 October The Bank has not suffered any labor strikes in the past 27 years, and considers the maintenance of harmonious relations with its employees and the Union as one of its key human capital agenda. The Bank anticipates having 25,000 total employees (in all levels; including those not included in the CBA) by 31 December (xi) Risk Management Risk management at BDO begins at the highest level of the organization. At the helm of the risk management infrastructure is the Board of Directors who is responsible for establishing and maintaining a sound risk management system. The Board of Directors assumes oversight over the entire risk management process. The Board of Directors has the ultimate responsibility for all risks taken by the Bank. It regularly reviews and approves the institution's tolerance for risks, as well as, the business strategy and risk philosophy of the Bank. It takes the lead in disseminating the institution's risk philosophy and control culture throughout the organization. It approves strategies and implementing policies affecting the management of all types of risks relating to the Bank's activities. It sets the risk-based organizational structure that will implement and ensure the effectiveness of the overall risk control system of the Bank. Towards this end, it is regularly updated on developments that could materially affect the Bank's liquidity position or the value of its resources. Likewise, the Board is responsible for overseeing the investment and credit activities of the Bank. The Board of Directors has created committees tasked with key functions in the overall risk framework of the Bank. The Risk Management Committee (RMC) is responsible for the development and oversight of the Bank's risk management program. The Executive Committee SEC FORM 17-A 11

15 (EXCOM) has responsibility over the approval processes of the Bank's loans and investments, property-related proposals, as well as, other credit-related issues over a prescribed amount delegated by the Board of Directors. The Asset and Liability Committee (ALCO) is tasked with managing the Bank's balance sheet and off-balance sheet activities, maintaining adequate liquidity, ensuring sufficient capital and appropriate funding to meet all business requirements within regulatory limits. The Risk Management Group (RMG) is mandated to adequately and consistently evaluate, manage, control, and monitor the overall risk profile of the Bank's activities across the different risk areas (i.e. credit, market, liquidity, and operational risks). The Bank operates an integrated risk management system to address the risks it faces in its banking activities, including credit, market, liquidity, and operational risks. The Bank's Risk Management Committee has overall responsibility for the Bank's risk management system and sets risk management policies across the full range of risks to which the Bank is exposed. It is responsible for approving the risk management plan developed by management, defining the policies, limits, and strategies for managing and controlling the major risks of the Bank. It oversees the system of limits of discretionary authority that the Board of Directors delegates to management under its purview, ensures that the system of limits of discretionary authority remains effective, that the limits are observed, and immediate corrective actions are taken whenever limits are breached. It is also responsible for evaluating the risk management plan as needed to ensure its continued relevance, comprehensiveness and effectiveness. The Risk Management Committee is a Board-Level Committee composed of four (4) members of the Board of Directors, with Jones M. Castro, Jr. (Independent) as Chairman, and Nestor V. Tan, Josefina N. Tan and Christopher A. Bell- Knight as members. Item 2 Properties Description of Property 1) Principal Properties Owned A. Presented below is a list of the Bank s principal properties as of 31 December 2014 owned by the Bank and utilized as head offices. No. NAME ADDRESS 1 BDO Corporate Tower BDO Corporate Tower, 7899 Makati Avenue cor. H.V. Dela Costa st., Makati City 2 Equitable Bank Tower Equitable Bank Tower, 8751 Paseo de Roxas, Makati City SEC FORM 17-A 12

16 No. NAME ADDRESS 3 Pacific Star Pacific Star Building, Makati Avenue, Makati City 4 Radio Marine Mtech EBC Bldg., Paseo de Roxas cor. Gil Puyat Avenue, Makati City 5 Robinsons Tower Robinsons PCIBank Tower, ADB Avenue, Ortigas Center, Pasig City B. Presented below is a list of the Bank s real properties as of 31 December 2014 owned by the Bank and utilized as BDO branches. (a) Metro Manila Branches No. BRANCH ADDRESS 1 ADB Avenue Ortigas Robinson's PCIBank Tower, ADB Avenue, Ortigas Center, Pasig City 2 Airport Road Airport Road corner Quirino Avenue, Baclaran, Parañaque City 3 Alfaro - Salcedo Village GF PCCI Bldg., 118 Leviste Street (Formerly Alfaro St.), Salcedo Village, Makati City 4 Arranque - T. Alonzo 733 T. Alonzo St., Manila 5 Asia Tower - Paseo G/F Asia Tower corner Paseo De Roxas & Benavides St., Makati City 6 Aurora Blvd - Notre Dame 0137 Aurora Blvd. corner Notre Dame St., Cubao, Quezon City 7 Aurora Blvd - Yale Aurora Boulevard corner Yale Street, Cubao, Quezon City 8 A. Santos - St. James 8406 A. Santos Ave., Sucat, Parañaque City 9 Baclaran - Redemptorist Road Redemptorist Road, Baclaran, Parañaque City 10 Unit 102 G/F Pryce Center Condominium, 1179 Chino Bagtikan - Chino Roces Roces Avenue Avenue corner Bagtikan St., San Antonio Village, Makati City 11 BDO Corporate Center BDO Corporate Center, Makati Avenue, Makati City 12 Bel Air - Gil Puyat Country Space 1 Condo. Building, Sen. Gil Puyat Avenue, Bel-Air Village, Makati City 13 Binondo 411 Quintin Paredes Street, Binondo, Manila 14 Blumentritt 2325 Rizal Avenue corner Antipolo Street, Sta. Cruz, 15 Blumentritt - San Juan Manila Lot 11-B, Blk. 127 Blumentritt corner Sto. Toribio St., San Juan, Metro Manila 16 Boni - Maysilo 74 Maysilo Circle corner Boni Avenue, Mandaluyong City 17 Caloocan - Sangandaan No. 628 A. Mabini St., 1408 Sangandaan, Caloocan City 18 Capitol-Pasig 125 Shaw Blvd. corner Danny Floro St., Pasig City 19 Corinthian Gardens BDO Leasing Center, Ortigas Ave., Quezon City SEC FORM 17-A 13

17 No. BRANCH ADDRESS 20 C. Palanca - Quiapo 132 Carlos Palanca St., Quiapo, Manila 21 C. M. Recto C. M. Recto Avenue corner Nicanor Reyes St., Manila 22 C. M. Recto - San Sebastian 2070 C.M. Recto St., Sampaloc, Manila 23 Dasmariñas St. - Binondo PCIBank Bldg., Dasmariñas St., Binondo, Manila 24 Dian - Gil Puyat G/F EPCIB Bldg., Sen. Gil Puyat Avenue corner Dian St., Makati City 25 E. Rodriguez 1162 E. Rodriguez Sr. Avenue, New Manila, Quezon City 26 Edsa - Reliance St. G/F Paragon Plaza, corner Reliance St., Mandaluyong City 27 Fairview Don Mariano Marcos Avenue, Barangay Fairview, Quezon City 28 Grace Park - 8th Avenue Rizal Avenue Extension, Grace Park, Caloocan City 29 Grace Park - 9th Avenue 414 Rizal Avenue Extension, Grace Park, Caloocan City 30 Greenhills - Roosevelt EBC Bldg. Ortigas Avenue corner Roosevelt Avenue, Greenhills, San Juan, Metro Manila 31 Ilaya - M. De Santos 632 M. De Santos Street, Manila 32 Kalentong MRDC Bldg., Shaw Boulevard corner Gen. Kalentong Street, Mandaluyong City 33 Las Piñas - Pamplona Alabang-Zapote Road, Pamplona, Las Piñas City 34 Las Piñas - Philamlife Avenue Alabang-Zapote Road, Pamplona Tres, 1740 Las Pinas, Metro Manila 35 Leveriza - Libertad 212 Libertad St., Pasay City, Metro Manila 36 Luneta - T.M. Kalaw 707 T.M. Kalaw St. corner Churruca St., Ermita, Manila 37 Makati Avenue - Ayala L.V. Locsin Bldg., Ayala Avenue corner Makati Avenue, 1228 Makati City 38 Makati Cinema Square Makati Cinema Square, Pasong Tamo, 1229 Makati City 39 Malabon 725 Rizal Avenue, San Agustin, Malabon City 40 Malabon - Rizal Avenue 694 Rizal Ave., 1470 Malabon, Metro Manila 41 Marikina - Bayanbayanan No. 48 Bayanbayanan Avenue, Brgy. Concepcion Uno, Marikina City 42 Marikina - Concepcion 17 Bayan-bayanan Avenue, Barangay Concepcion 1, Marikina City 43 Marikina - Sumulong Highway Corner E. Dela Paz Street Amang Rodriguez Avenue, Sto. Nino, Marikina City 44 Marulas - McArthur Highway Lot 16 & 17 McArthur Highway, Valenzuela, Metro Manila 45 Mayon GF, Alpha Building, 174 Mayon Street, La Loma, Quezon City 46 Medical Plaza - Legaspi Unit 101, G/F Medical Plaza Makati, Amorsolo Street Village corner Dela Rosa Street, Legaspi Village, Makati City 47 Novaliches - Forest Hills Lot 2 D 1 Quirino Ave., Novaliches, Quezon City SEC FORM 17-A 14

18 No. BRANCH ADDRESS 48 Ortigas Avenue 209 Ortigas Avenue, Greenhills, San Juan, Metro Manila 49 Ortigas Ave. - San Juan Unit Sunrise Condominium, Ortigas Avenue, 1500 San Juan, MM 50 Ortigas - Exchange Road G/F, PSE Center, Exchange Road, Ortigas Commercial Complex, Pasig City 51 Paco - A. Linao A. Linao St., Paco, Manila 52 Padre Faura - A. Mabini A.Mabini Cor. Padre Faura Sts., 1000 Ermita, Manila 53 Pasay Libertad corner Colayco Streets, Pasay City 54 Pasay Road 845 Corporate Plaza Bldg., Pasay Road, Makati City 55 Paseo - Gil Puyat EBC Bldg., Paseo de Roxas corner Gil Puyat Avenue, Makati City 56 Paseo Tower - Makati Equitable Bank Tower, 8751 Paseo de Roxas, Makati 57 Pasig - Manggahan 58 Pasig - Sixto Antonio Ave. Pilapil 59 Perea-Paseo 60 Pitimini - Roosevelt 61 Plaza Sta. Cruz - Dasmariñas St. City Amang Rodriguez Avenue, Barangay Manggahan, Pasig City Lot 2 B, Sixto Antonio Ave., Brgy. Kapasigan, Pasig City G/F Universal Re Bldg., 106 Paseo De Roxas, 1228 Makati City EBC Bldg. Roosevelt Avenue corner Pitimini St., SFDM, Quezon City 377 Plaza Sta. Cruz, 1003 Sta. Cruz, Manila 62 Potrero 110 MacArthur Highway corner Riverside St., Potrero, Malabon 63 President's Avenue - BF President's Ave. corner J. Elizalde St., BF Homes Parañaque Parañaque, Metro Manila 64 Quezon Avenue - Heroes Hill 1052 Quezon Avenue, 1103 Quezon City 65 Quezon Avenue West Lot 3-B, Quezon Ave. Extension, Brgy. West Triangle, Triangle Quezon City 66 Reposo - Makati EBC Bldg., JP Rizal corner N. Garcia, Makati City 67 Rizal Avenue Rizal Avenue corner Cavite St., Sta. Cruz, Manila 68 Rockwell Center - Makati Lot 3, Block 7, Rockwell Drive, Rockwell Center, Poblacion, Makati City 69 Shaw Blvd. - Stanford EBC Bldg., Shaw Blvd. corner Stanford St., Mandaluyong City 70 St. Ignatius - Katipunan 137 Katipunan Avenue, St. Ignatius Village, Quezon City 71 Strata Ortigas G/F Strata 100 Bldg., Don Francisco Ortigas Jr., Pasig City 72 Taft - Vito Cruz Bankard Bldg., 2422 Taft Ave., 1004 Malate, Manila 73 Timog South Triangle G/F President Tower, 81 Timog Ave. corner Scout SEC FORM 17-A 15

19 No. BRANCH ADDRESS Ybardolaza St., Brgy. South Triangle, Diliman, Quezon City 74 Tomas Morato - Kamuning Corner Kamuning & Tomas Morato, Quezon City 75 U.N. Avenue - J. Bocobo EBC Bldg., UN Avenue corner J. Bocobo St., Ermita, Manila 76 V. A. Rufino GF Chatham House, Herrrera St. corner Valero and San 77 West Trade Center - West Avenue 78 Yakal - Chino Roces Avenue Agustin St., Salcedo Village, Makati City Unit # 1, G/F West Trade Center, West Avenue, Quezon City Avida Tower 2, Yakal St.,San Antonio Village, Makati City (b) Provincial Branches No. BRANCH ADDRESS 1 Angeles Balibago BDO Building along Ramon Tang Avenue, Diamond Subd., Balibago, Angeles City, Pampanga 2 Angeles City - Miranda PCIB Bldg., Miranda St., 2009 Angeles City, Pampanga 3 Antique Corner Gov. Villavert St. and Gov. Gella St., San Jose, Antique 4 Bacolod - Capitol Shopping Benigno Aquino Drive, Capitol Shopping, 6100 Bacolod City, Negros Occidental 5 Bacolod - Gatuslao 26 & 28 Gov. V. Gatuslao St., Bacolod City, Negros Occidental 6 Bacolod - Lacson Lacson cor.galo Sts., 6100 Bacolod City, Negros Occidental 7 Bacolod Plaza Araneta corner Gonzaga Sts., 6100 Bacolod City, Negros Occidental 8 Bacolod - Rosario Lacson Lot 296-B-7, Lacson St. cor. Rosario St., Bacolod City, Negros Occidental 9 Balanga - A. Banzon A. Banzon St., City of Balanga, 2100 Bataan 10 Baliwag - J. P. Rizal J.P. Rizal St., San Jose, Baliuag, Bulacan 11 Batangas City - Rizal Avenue Rizal Avenue corner P. Burgos St., 4200 Batangas, Batangas City 12 Batangas - Nasugbu JP Laurel St., Barangay Poblacion, Nasugbu, Batangas 13 Batangas - Sto. Tomas Maharlika Highway, San Antonio, Sto.Tomas, Batangas 14 Biñan A. Bonifacio Street, Barrio Canlalay, Biñan, Laguna 15 Bukidnon - Valencia M. L. Quezon St. cor. G. Laviña Ave., Valencia City, Bukidnon 16 Cabanatuan - Maharlika Road Maharlika Road near cor. Sanciangco St., Cabanatuan City SEC FORM 17-A 16

20 No. BRANCH ADDRESS 17 Cabanatuan - Maharlika South BDO Building, Maharlika Highway, Barangay Dicarma, Cabanatuan City, Nueva Ecija 18 Cagayan - Aparri Rizal St. cor. R.F. Balisi St., Aparri, Cagayan 19 Cagayan de Oro - Lapasan CM Recto Highway, Lapasan, 9000 Cagayan de Oro City, Misamis Oriental 20 Cagayan De Oro-Limketkai L-6 B-2, Limketkai Ave., Limketkai Commercial Complex, Brgy. 31, Poblacion, Cagayan De Oro City, Misamis Oriental 21 Cagayan de Oro - Velez Velez Road corner Abejuela Street, Cagayan de Oro 22 Calamba Crossing - North Calamba Crossing, National Highway, 4027 Calamba, Laguna 23 Cavite City - P. Burgos Corner P. Burgos & P. Julio St., Caridad, 4100 Cavite City 24 Cavite - Dasmariñas Technopark Governor's Drive, Brgy. Paliparan I, Dasmarinas, Cavite 25 Cavite - General Trias Gateway Business Park, C. Delos Reyes Ave., 4107 Gateway Gen. Trias, Cavite 26 Cavite - Imus Anabu Gen. Aguinaldo corner Ambrosia Road, Anabu I, Imus, Cavite 27 Cebu - Borromeo Magallanes corner Borromeo St., Cebu City 28 Cebu - F. Gonzales F. Gonzales corner Magallanes St., Cebu City 29 Cebu - Fuente Circle Fuente Osmena Rotonda, Cebu City 30 Cebu - Gorordo Gorordo Avenue, Lahug, 6000 Cebu City, Cebu 31 Cebu - Magallanes Plaridel Magallanes corner Plaridel Sts., 6000 Cebu City 32 Cebu - North Mandaue National Highway, Mandaue City 33 Cebu - North Reclamation Blk.20-A cor. Port Centre Ave. and Juan Luna Ave., North Reclamation Area, Cebu City 34 Cotabato - Kidapawan Quezon Blvd., 9400 Kidapawan, North Cotabato 35 Cotabato - Makakua Makakua St., 9600 Cotabato City, Maguindanao 36 Dagupan - Fernandez A.B. Fernandez Ave., 2400 Dagupan City, Pangasinan 37 Davao - Claveria BDO Building, No. 30 C.M. Recto Avenue, Poblacion, Davao City 38 Davao - C.M. Recto 383 Claro M. Recto St., Davao City 39 Davao - Digos Rizal Avenue, Zone II, Digos, Davao del Sur 40 Davao JP Laurel Landco-PDCP Corporate Center, JP Laurel Avenue, Davao City 41 Davao - Mati Rizal cor.mabini Sts., 8200 Mati, Davao Oriental 42 Davao - Tagum 577 Rizal St., 8100 Tagum, Davao Del Norte 43 Davao - Toril Agton St., Toril, Davao City 44 Dipolog Quezon Ave, 7100 Dipolog City, Zamboanga Del Norte 45 Dumaguete Colon St. fronting Bldg. V of City Public Market, SEC FORM 17-A 17

21 No. BRANCH ADDRESS Poblacion 003, Dumaguete City 46 General Santos - Pioneer Pioneer Avenue, General Santos City, General Santos - Santiago St. Ireneo Santiago Blvd., 9500 Gen. Santos St., South Cotabato 48 Iligan - Del Pilar BC Labao corner Del Pilar St., Iligan City 49 Iloilo - Iznart Iznart St., 5000 Iloilo City, Iloilo 50 Iloilo - Valeria Valeria Street, Iloilo City 51 Isabela - Roxas 52 Isabela - Santiago Centro 53 Isabela - Santiago Maharlika Highway 54 Koronadal - Gensan Drive 55 Koronadal R. Alunan Avenue 56 Laoag - Balintawak 23 Osmeña Rd., Bantug, Mallig Plain, 3320 Roxas, Isabela BDO Building City Rd. cor. Guzman St., Calao West, Santiago City, Isabela BDO Bldg., No. 57 Maharlika Highway corner Quezon Avenue St., Santiago City, Isabela NE of Gensan Drive, Zone 1, Koronadal City, South Cotabato R. Alunan Ave. cor. Osmeña St., 9506 Koronadal, South Cotabato Cor.Rizal & Balintawak Sts., 2900 Laoag City, Ilocos Norte 57 La Union San Fernando - Q. Avenue Quezon Ave., 2500 San Fernando, La Union 58 Leyte - Ormoc Corner Burgos & Rizal St., 6541 Ormoc City, Leyte 59 Lipa - C. M. Recto 131 C. M. Recto St, 4217 Lipa City, Batangas 60 Lipa - Rotonda C.M. Recto Avenue, Lipa City 61 Malolos - Congreso Paseo Del Congreso, San Agustin 3000 Malolos, Bulacan 62 Meycauayan - Zamora Zamora St., Barrio Calvario, Meycauayan, Bulacan 63 Negros Occ - Cadiz Cabahug St., 6121 Cadiz, Negros Occidental 64 Negros Occ - Escalante National Highway, Escalante City, 6124 Negros Occidental 65 Negros Occ - Kabankalan Guanzon St., Kabankalan, 6111 Negros Occidental 66 Nueva Ecija - Gapan Tinio St., 3105 Gapan, Nueva Ecija 67 Nueva Ecija - Guimba Afan Salvador St., 3115 Guimba, Nueva Ecija 68 Nueva Ecija - Muñoz T. Delos Santos St., Science City of Munoz, Nueva Ecija 69 Ozamiz Cebedo St. corner Gallardo St., Centro, Ozamiz City, 70 Pagadian Misamis Occidental F. S. Pajaras Ave., Pagadian City, 7016 Zamboanga Del Sur 71 Pampanga - Guagua Lot 4876 Plaza Brgos St., Guagua, Pampanga 72 Puerto Princesa 261 Rizal Ave., 5300 Puerto Princesa City, Palawan 73 Quezon - Candelaria Rizal corner Valle St., Candelaria, Quezon SEC FORM 17-A 18

22 No. BRANCH ADDRESS 74 Roxas - Roxas Avenue Roxas Avenue, Roxas City, Capiz 75 San Pablo - Rizal St 2nd Floor, Equitable PCI Bldg., Rizal St. cor. P. Alcantara, San Pablo City, Laguna 76 Silay Figueroa Figueroa cor. Rizal St., Silay City, 6116 Negros Occidental 77 Sta. Rosa - South Expressway National Road, Pulong Sta. Cruz, 4026 Sta Rosa, Laguna 78 Sultan Kudarat - Isulan 075 National Highway, Kalawag 2, Isulan, Sultan Kudarat 79 Sultan Kudarat - Tacurong Alunan Highway, 9800 Tacurong, Sultan Kudarat 80 Tarlac - J. Luna J. Luna St. near corner Mc Arthur, Tarlac, Tarlac 81 Tarlac - Luisita MacArthur Highway, Barangay San Miguel, Tarlac City 82 Tuguegarao - Bonifacio St. Bonifacio Street, Tuguegarao, Cagayan 83 Urdaneta - Alexander Alexander St., Urdaneta City, Pangasinan 84 Vigan - Quezon Avenue Corner Bonifacio St. & Quezon Ave., 2900 Vigan, Ilocos Sur 85 Zamboanga - Rizal St. Rizal St., Zamboanga City, 7000, Zamboanga Del Sur C. Presented below is a list of the Bank s real properties as of 31 December 2014 owned by the Bank and utilized as warehouses and staffhouses. No. NAME ADDRESS 1 Baguio Staffhouse Poblete Ext. South Drive, Baguio Country Club, Baguio City 2 Howmart warehouse 63 & 65 Howmart st., Brgy. Apolonio Samson, Quezon City 3 Nuvali Sta. Rosa Lot 6 Block 9, Nuvali, Sta. Rosa, Laguna 4 Taguig warehouse Arthuro cor. Franco Drive, Sta. Maria Industrial Estate, Barrio Bagumbayan, Taguig, Metro Manila 5 The Real Bank Masinag Masinag St., Antipolo City D. Presented below is a list of the Bank s real properties (vacant lots and buildings) as of 31 December 2014 owned by the Bank reserved for future branch or regional use. No. NAME ADDRESS 1 Premises Management Division (Cebu J. Mall) 2 Juan Luna Binondo National Highway, 6014 Mandaue City, Cebu J. Luna/Quintin Paredes & Hormiga Sts., Binondo, Manila 3 Leyte- Maasin Tomas Oppus St., 6600 Maasin, Southern Leyte 4 Malabon General Luna Gen. Luna St., Barangay San Agustin, Malabon City 5 Malungon Gensan Brgy. Upper Balulang, Cagayan de Oro City SEC FORM 17-A 19

23 No. NAME ADDRESS 6 Office Head Region 1 Lot 3 & 5 MacArthur Highway, Brgy. San Vicente, Apalit, Northern Luzon Pampanga 7 Office Head Region 6 Lot 2903 Merchan st., cor. C.M. Recto st., cor. Caban st., Southern Brgy. IV, Lucena City 8 Premises Management Division (Naga Plaza, Rizal) Gen. Luna St., 4400 Naga City, Camarines Sur 9 RBSJ N. Domingo building N. Domingo cor. Katubusan st., San Juan, Metro Manila 10 RBSJ Tarlac building Lot 3-H & 3-I-2 Sto. Cristo, J.P. Rizal Extension, Tarlac (Monarch) City 11 Tarlac (UOB) 27 F. Tanedo st., Tarlac City 12 The Real Bank Unit 301, , 714, 801 and parking space of Presidents Tower, Timog Ave., Quezon City E. Presented below is a list of the Bank s real properties (lot and building) as of 31 December 2014 owned by the Bank which are currently tenanted No. NAME ADDRESS 1 Gercon Plaza Lot 5 & 6 Gercon Plaza along Makati Ave., Brgy. Bel Air, Makati City (2) Leased Properties BDO Unibank Group leases the premises of its head office and most of its branch offices for periods ranging from one to 15 years from the date of the contracts; terms are renewable upon the mutual agreement of the parties. Rent expense, reported as part of Occupancy under Other Operating Expenses account in the statements of income, amounted to P2,199 million in 2014, P1,971 million in 2013 and P1,744 million in 2012 and in BDO Unibank Group's financial statements and P2,131 million in 2014, P1,875 million in 2013 and P1,672 million in 2012 in the Parent Bank's financial statements. A list of these leased properties is as follows: (a) Utilized as head office as of 31 December 2014: No. NAME ADDRESS 1 JMT Building JMT Corporate Condominium, ADB Ave., Ortigas, Pasig City (b) Utilized as regional offices as of 31 December 2014: No. NAME ADDRESS SEC FORM 17-A 20

24 1 Rudel Building (CLG Office) 3f & 4f Rudel Building, PerezBlvd. Cor. Guilig St, Dagupan City 2 SM Hypermarket (CLG Office) 3f, SM Hypermarket, Laoag (c) Metro Manila Branches 1. Lot leased NO BRANCH ADDRESS 1 Better Living 2 Congressional - Mindanao Avenue 3 EDSA - Pasay 4 Isidora Hills 5 JAS Recto 6 J. P. Rizal 7 Las Piñas - BF Resort 8 9 Malanday - McArthur Highway Makati - P. Ocampo Sr.Ext. 10 Marikina - Tañong 11 Novaliches 12 Novaliches - Lagro 13 Project 8 - Shorthorn 14 Quezon Avenue - Cordillera Doña Soledad Avenue corner France St., Better Living, Parañaque City Congressional Avenue Extension corner Mindanao Avenue, Quezon City 507 EDSA corner B. Garcia St., 1300 Pasay City BDO Bldg., Pook Ligaya Riding Ground, Interneighborhood Road, Isidora Hills Subdivision, Barangay Holy Spirit, Quezon City 1174 J. Abad Santos Avenue, Tondo, Manila 872 JP Rizal St., Barangay Poblacion, Makati City BDO Bldg., BF Resort Drive, Phase 4, BF Resort Village, Las Piñas City KM 17 MacArthur Highway, Malanday, 1444 Valenzuela, Metro Manila 243 P. Ocampo Sr. corner Flor de Lis St., Brgy La Paz, Makati City A. Bonifacio Avenue, Brgy. Tañong, Marikina City 1016 Quirino Highway Town Proper, Brgy. Monica, Novaliches, Quezon City Lot 2-B (LRC) PSD , Quirino Highway, Lagro, Novaliches, Quezon City BDO Bldg., No. 41 Shorthhorn Street, Brgy. Toro, Project 8, Quezon City Quezon Avenue corner Cordillera St., Quezon City Lease Effectivity Dec 01, Lease Expiry - Nov 30, 2026 Oct 01, Apr 30, 2017 May 01, 2013 May 07, Apr 30, May 06, 2018 Oct 01, Sep 30, 2020 Jun 15, 2013 May 15, Jun 14, May 14, 2018 Apr 02, Apr 02, 2019 Jan 01, 2013 Jun 01, 2012 Sep 01, Dec 31, May 31, Aug 31, 2016 Apr 15, Apr 14, 2029 Oct 01, Sep 30, 2019 Apr 15, Apr 14, 2015 SEC FORM 17-A 21

25 NO BRANCH ADDRESS 15 Visayas Avenue - Project 6 57 Visayas Avenue (Near Sanville Subdivision), Quezon City Lease Effectivity Sep 01, Lease Expiry - Aug 31, Building leased NO BRANCH ADDRESS 1 A Place Coral Way 2 3 ABS - CBN Mother Ignacia St. Acropolis - E. Rodriguez Jr. 4 ADB Avenue Opal 5 Alabang Hills 6 Alabang - Madrigal Avenue 7 Alabang - Muntinlupa 8 Anonas - Aurora Blvd. 9 Anonas - Kamias G/F A Place, Coral Way Drive, MOA Complex, Central Business Park 1, Island A, Pasay City Stall No. 25 South Wing, G/F ELJCC Bldg., Sgt. E.A. Esguerra Avenue corner Mother Ignacia St., Quezon City G/F The SPA Bldg., E. Rodriguez Jr. Avenue, Bagumbayan, Quezon City G/F Malayan Plaza ADB Ave. corner Opal Rd., Ortigas Center, Pasig City RBC Corporate Centre, Don Jesus Blvd., Barangay Cupang, Muntinlupa Units 5 & 6, Molito Commercial Complex, Madrigal Business Park, Madrigal Avenue, Alabang, Muntinlupa City Yellow 1 Bldg., South Station Bargain Center, Filinvest Corporate City, Alabang- Zapote Road, Alabang, Muntinlupa 5 Belmont Place Bldg., Anonas St., Project 3, Quezon City Security Bank Bldg., Anonas St. corner K-6 St., East Kamias, 1102 Quezon City 10 Arranque Soler St., Sta. Cruz, Manila 11 Arranque - Severino Reyes 12 Aurora Blvd. - Anonas 13 Aurora Blvd - Broadway Centrum C.M. Recto corner Severino Reyes St., Sta. Cruz, Manila Manahan Bldg., Aurora Blvd. corner Anonas Avenue, Quezon City Broadway Centrum Cond., Aurora Blvd. cor. Dona Juan Rodriguez St., Valencia, QC Lease Effectivity Nov 01, 2013 Aug 05, Lease Expiry - Oct 31, Dec 31, 2014 Apr 18, Apr 17, 2023 Oct 16, Oct 15, 2015 Aug 01, 2014 Jun 01, Jul 31, May 31, 2015 Oct 01, Oct 31, 2017 Aug 01, 2012 Sep 01, 2011 Sep 01, Aug 01, Aug 31, Aug 31, 2017 Jul 03, Jul 03, 2017 Dec 01, 2008 Jan 01, Nov 30, Dec 31, 2014 SEC FORM 17-A 22

26 NO BRANCH ADDRESS 14 Aurora Blvd - Hemady 15 Ayala Alabang 16 Ayala Alabang - Richville Center 17 Ayala Avenue Ayala Avenue - People's Support Ayala Avenue - SGV 1 Bldg. 20 Ayala Paseo 21 Ayala - Rufino 22 Ayala Triangle 1 23 A.Arnaiz - Paseo A. Arnaiz - San Lorenzo Village A. Bonifacio Ave. - Balintawak 708 Aurora Blvd. corner Hemady St., New Manila, 1110 Quezon City G/F Unioil Center Bldg., Acacia Avenue corner Commerce Avenue, Ayala Alabang, Muntinlupa Richville Center, 1314 Commerce Avenue Extension, Madrigal Business Park, Ayala Alabang, Muntinlipa 6805 Multinational Bancorporation Bldg., Ayala Avenue, Makati City G/F People Support Center, Amorsolo St. corner Ayala Avenue, Makati City G/F SGV 1 Building, 6760 Ayala Avenue, Makati City G/F ILAC Building, Ayala Ave. corner Paseo de Roxas, Makati City G/F Rufino Bldg., Ayala Avenue corner Herrera St., 1226 Makati City GM-B G/F Tower 1, Ayala Triangle, Ayala Avenue, Makati City G/F Joni's Bldg., 832 Arnaiz Ave. Corner Edades St., Makati City L & R Bldg., 1018 A. Arnaiz Avenue, Makati City 960 A. Bonifacio Avenue, Balintawak, Quezon City Lease Effectivity Jun 01, 2013 Aug 01, Lease Expiry - May 31, Jul 31, 2016 Jul 01, Jun 30, 2018 Nov 01, 2011 Dec 16, 2010 May 01, 2012 Feb 01, 2013 Feb 01, 2012 May 01, Oct 31, Jan 31, Apr 30, Jan 31, Jan 31, Apr 30, 2016 Oct 01, Sep 30, 2015 Dec 01, 2013 Jun 01, Nov 30, May 31, Baclaran 2987 Taft Avenue Extension, Pasay City Oct 01, Sep 30, Banawe - Agno 28 Banawe - Amoranto 29 Banawe - Kitanlad 30 Banawe - N. Roxas 31 Bel Air 32 Better Living - Bicutan Banawe corner Agno St., 1103 Quezon City 650 N. S. Amoranto Avenue corner Banawe St., Quezon City Banawe corner Kitanlad, Quezon City 71 Nicanor Roxas St. corner Banawe St., Quezon City G/F SM Makati Cyberzone 1, Sen. Gil Puyat Avenue, Makati City 43 Doña Soledad Avenue, Better Living Subdivision, Don Bosco, Parañaque, Metro Manila Mar 01, 2010 Jan 01, 2011 Sep. 16, 2012 Dec 01, 2012 Sep 15, 2013 Mar 24, Feb 28, Dec 31, Sep. 15, Nov 30, Sep 14, Mar 23, BF Homes - Aguirre RGM Bldg., 326 Aguirre Avenue, BF Feb 16, - Feb 15, 2018 SEC FORM 17-A 23